Keefe, Bruyette & Woods Reiterates Market Perform Rating for FB Financial (NYSE:FBK)

FB Financial (NYSE:FBK - Get Free Report)'s stock had its "market perform" rating reaffirmed by Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They presently have a $38.00 price target on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 6.62% from the company's previous close.

Several other analysts also recently commented on the company. Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and increased their target price for the company from $38.00 to $41.00 in a research note on Tuesday. StockNews.com upgraded FB Financial from a "sell" rating to a "hold" rating in a research note on Tuesday. Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and increased their target price for the company from $40.00 to $40.50 in a research note on Tuesday. Finally, Stephens cut their target price on FB Financial from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, FB Financial currently has a consensus rating of "Hold" and an average target price of $39.43.

FB Financial Stock Performance

Shares of FB Financial stock traded down $0.51 during midday trading on Wednesday, hitting $35.64. The company had a trading volume of 280,649 shares, compared to its average volume of 134,363. The stock has a market capitalization of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15. The company has a 50 day moving average of $35.96 and a 200 day moving average of $35.11. FB Financial has a 52-week low of $24.34 and a 52-week high of $41.00.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. During the same quarter in the prior year, the business posted $0.85 EPS. Equities research analysts forecast that FB Financial will post 2.84 EPS for the current year.

Insider Activity

In other news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $36.35 per share, with a total value of $72,700.00. Following the acquisition, the insider now directly owns 10,886,841 shares of the company's stock, valued at $395,736,670.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder James W. Ayers bought 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, with a total value of $72,700.00. Following the acquisition, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers bought 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the acquisition, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders have bought 7,000 shares of company stock valued at $256,830 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FB Financial

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in FB Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider's stock worth $97,816,000 after purchasing an additional 49,313 shares during the period. Mendon Capital Advisors Corp purchased a new position in FB Financial in the fourth quarter worth about $5,978,000. Price T Rowe Associates Inc. MD lifted its stake in FB Financial by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,722 shares of the financial services provider's stock worth $348,000 after purchasing an additional 809 shares during the last quarter. GSA Capital Partners LLP bought a new stake in FB Financial in the fourth quarter worth about $241,000. Finally, Public Employees Retirement System of Ohio lifted its stake in FB Financial by 139.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 18,117 shares of the financial services provider's stock worth $722,000 after purchasing an additional 10,558 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.